Lorem Ipsum Management Lowers stake in Albemarle Corporation (ALB)

Albemarle Corporation (ALB) : Lorem Ipsum Management reduced its stake in Albemarle Corporation by 57.5% during the most recent quarter end. The investment management company now holds a total of 75,000 shares of Albemarle Corporation which is valued at $5.7 Million after selling 101,482 shares in Albemarle Corporation , the firm said in a disclosure report filed with the SEC on May 13, 2016.Albemarle Corporation makes up approximately 6.45% of Lorem Ipsum Management’s portfolio.

Other Hedge Funds, Including , Nomura Asset Management Co Ltd boosted its stake in ALB in the latest quarter, The investment management firm added 714 additional shares and now holds a total of 12,710 shares of Albemarle Corporation which is valued at $967,994. Albemarle Corporation makes up approx 0.02% of Nomura Asset Management Co Ltd’s portfolio. Cibc Asset Management Inc added ALB to its portfolio by purchasing 6,454 company shares during the most recent quarter which is valued at $491,537. Nine Chapters Capital Management sold out all of its stake in ALB during the most recent quarter. The investment firm sold 42,800 shares of ALB which is valued $3.3 Million.Schwab Charles Investment Management Inc boosted its stake in ALB in the latest quarter, The investment management firm added 11,030 additional shares and now holds a total of 289,036 shares of Albemarle Corporation which is valued at $19.8 Million. Albemarle Corporation makes up approx 0.03% of Schwab Charles Investment Management Inc’s portfolio. Gryphon International Investment Corp added ALB to its portfolio by purchasing 135,935 company shares during the most recent quarter which is valued at $9.3 Million. Albemarle Corporation makes up approx 2.03% of Gryphon International Investment Corp’s portfolio.

Albemarle Corporation opened for trading at $76.9 and hit $79.0399 on the upside on Wednesday, eventually ending the session at $78.87, with a gain of 3.31% or 2.53 points. The heightened volatility saw the trading volume jump to 12,00,153 shares. Company has a market cap of $8,857 M.

On the company’s financial health, Albemarle Corporation reported $1.12 EPS for the quarter, beating the analyst consensus estimate by $ 0.26 according to the earnings call on May 10, 2016. Analyst had a consensus of $0.86. The company had revenue of $865.40 million for the quarter, compared to analysts expectations of $814.81 million. The company’s revenue was down -2.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.17 EPS.

Investors should note that on May 10, 2016, Albemarle Corporation announced a cash dividend of $0.3050. The company’s management has announced Jun 13, 2016 as the ex-dividend date and fixed the record date on Jun 15, 2016. The payable date has been fixed on Jul 1, 2016.

Many Wall Street Analysts have commented on Albemarle Corporation. Company shares were Reiterated by Deutsche Bank on May 12, 2016 to “Buy”, Firm has raised the Price Target to $ 84 from a previous price target of $72 .Company shares were Reiterated by Deutsche Bank on Apr 1, 2016 to “Buy”, Firm has raised the Price Target to $ 72 from a previous price target of $62 .Seaport Global Securities Downgraded Albemarle Corporation on Mar 10, 2016 to ” Neutral”, Price Target of the shares are set at $59.

Albemarle Corporation (Albemarle) is a developer manufacturer and marketer of specialty chemicals across a range of end markets including the petroleum refining consumer electronics plastics/packaging construction automotive lubricants pharmaceuticals crop protection food-safety and custom chemistry services markets. The Company operates through two segments: Performance Chemicals and Catalyst Solutions. As of December 31 2014 the Performance Chemicals segment includes the Fire Safety Solutions Specialty Chemicals and Fine Chemistry Services product categories. As of December 31 2014 the Catalyst Solutions segment includes the Refinery Catalyst Solutions and Performance Catalyst Solutions product categories.

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